The Chief Executive Officer of the Balmoral Group, Ezekiel Adamu, tells KEHINDE AJOSE about his journey as an entrepreneur, business growth and other issues
Tell us how you built the Balmoral brand from the days of small beginnings to what it is right now?
I literally started Balmoral right after graduating from the university in 2006. Right from my university days, I had been involved in events and entertainment. So, when I graduated, it was no brainer for me to look in that direction.
Meanwhile, I worked with an event company based in France called GL Events. It was through them that I got into the events space. We started off with just one event venue— Balmoral Events Centre at Kudirat Abiola Way, Ikeja, Lagos. When we started, the cost of renting our venue was N420,000, and I remember people were saying nobody would pay. We were resilient and we stuck to what we believe in.
I remember telling someone that my vision was to build an event centre that would be like MUSON Centre, Lagos Island. The person told me to forget my dream, saying it was not possible. However, I always believe in possibilities. I don’t believe anything is impossible. I believe that with the right discipline and sticking to the correct way of doing things, one would achieve one’s dreams.
On a scale of one to 10 for the vision I have for the company, we are just on number four or five. The vision is still very huge. We have been running the company (in Nigeria) since 2006.
The parent company, GL Events, has event venues worldwide. It is even listed on the France stock market. It owns about 300 event centres.
What were some of the challenges you faced in the course of building the business?
There was a fire incident at our first place in Oregun, Ikeja during an awards ceremony. When that happened, I tapped into something I had read about Thomas Edison. After a fire consumed his laboratory, he began rebuilding it immediately. I knew that we had to rebuild immediately. I called the insurance company, and told them to come and take pictures of the burnt place, because I intended to rebuild in no time. And, we were able to achieve that. It took us a month to rebuild it. People thought I was crazy for daring to do the ‘impossible’, but it also got us attention from other people.
The Archbishop Vining Memorial Church in Ikeja GRA approached us, saying they liked how we did our business. They said they had a piece of land next to the church, and asked if we would be interested in a partnership. That was how we started our second event centre, called The Haven. We were running that for a while when we were invited by Eko Hotel and Suites, Victoria Island, Lagos, for a partnership. That led to Ocean View. After a while, Federal Palace Hotel approached us and we started the Federal Palace Convention Centre.
Right now, we are working on a state-of-the-art event centre in partnership with Marriot International.
What is your driving force?
The driving force for me is to be a better version of myself every single day. I believe we still have a long way to go.
What are the hazards of the business?
The major hazard of the business is pretty much the ‘people’ side of it. Events are about solutions, and solutions mean that one needs to work with people that are solution oriented. Getting the right people is one of the biggest challenges, though I am blessed with a lot of them.
Another problem is the ‘Nigeria factor’. However, my mindset is not to see problems. I see problems as opportunities. When there are problems, one should be able to come up with solutions to that problem, and extend that solution to other people. Business is all about solutions. We have taken events to a certain level; and now, we want to infuse tech into events.
In what ways do you intend to adapt tech to events?
This has to do with us creating events of our own. We have organised many events, ranging from concerts to theme parks. The last one we had was The Wonderland theme part. We have also held the International Drinks Festival. The way we intend to introduce technology ranges from the area of ticketing to vendors and even buying things. We want people to be able to buy tickets right from their living rooms. It will also give people the opportunity to get trusted vendors in the events space.
People who organise events know that they often lose money when they do business with cash. But, they do it through a tech platform, there would be no leakage. That is because everything is visible and transparent. That is the direction the world is going, and we want to champion it (in Nigeria).
Can you recall some of your most memorable moments?
I have memorable moments all the time. However, one moment that stands out was the fire incident we had. I can never forget that disaster, because I did not see it as a drawback; rather, I took it as a stepping stone to be better than what we were.
In what ways did your educational background shape you?
I am of the view that learning and development are things one has to do for oneself. I tell members of my staff that personal development is their individual responsibilities. One has to learn to develop oneself; or one would get to a point where the organisation or industry where one works would have outgrown one. Personally, I keep learning, unlearning and relearning. Aside from the universities I attended, I have done a lot of courses. I have been to Oxford University (United Kingdom) and Harvard (United States of America). I make sure that I read a chapter of a book every day. I actually enjoy learning.
What are the challenges peculiar to the events industry in Nigeria?
The first one is technology. There are a lot of businesses out there that are not well known. We want to use technology to showcase them to the world.
Another challenge is double taxation. There are a lot of levies we have to pay, especially with venues. There was a time we were paying about 26 different levies per year. That is almost an impossible thing for a business to do and keep afloat. We are currently in conversation with the government to see what can be done about that. Another challenge is infrastructure. If we get those things right, things will be better. I believe that with the government currently in place, things will get better.
How can the government support the industry, particularly because of its tourism potential?
The government should look into the issue of multiple taxations. They can set up a committee to find out if people in the industry are even making enough money for them to be taxed that much.
Also, there has to be a level playing ground. In developed countries, one could go to a street and see different hotels offering the same service; with the only difference being value. But, in Nigeria, if one is a big player, the government would come after one for things that one does not do. Meanwhile, the small players can get away with things. That way, it is no longer a level playing field, because one has to charge much to stay in business, while the business next to one is charging less because the government is not disturbing them.
What are the important factors needed to thrive in this line of business?
First, one needs to have a great imagination. Imagination is intangible but it can yield tangible results. Even before starting, one should be able to visualise where one wants to get to. However, one must have faith that one would get there. It is the faith that would make one start taking baby steps.
If one has an imagination without faith, one won’t even make a move. It is tfaith that will help one to maintain a positive.
What was the purpose for setting up the Balmoral School of Events?
With our years of experience and also dealing with different people, we thought of having a school where we could train the best talents and churn them out into the industry. When we train them, other event companies would also hire them. We are basically trying to fill the vacuum of inadequate personnel. It is also a way of giving back to the industry and society. In addition, we want to put our stamp of approval on certain individuals and businesses.
What do you foresee as the future of the events and hospitality industry in the country?
It is an evolving industry and it keeps growing. The whole world is paying attention to Nigeria now because of our music and other things. I always tell people that we are beyond just our music. We are a movement; culture even.
How do you relax?
I relax by bonding with my children. I also travel. Travelling is a form of therapy for me. By travelling, one gets to see other parts of the world. One sees how other people do things, and one can bring innovations witnessed in different parts of the world back home. I feel fortunate that I am being paid for what I enjoy doing. For me, it is not work.
In what other ways are you giving back to society?
We carry out a lot of corporate social responsibility projects, mostly for schools and underprivileged children. We help in paying the school fees of indigent students.
What advice do you have for young Nigerians?
I believe that hard work is very important. We are in an era where social media makes people feel that everything is instant, but nothing that lasts is really instant. I was telling a friend recently about a slogan that says, ‘Overnight success takes 20 years’. I actually believe that.
For anyone who wants to come into the events and hospitality industry, they need to understand that one has to put in a lot of work into it. One must not give up, because it would take a while for success to come one’s way. Even if one achieves success in the first year, that does not mean things will always be like that. One has to be consistent in whatever one is doing for one to be successful.
